Gold is stable – Analysis - 29-07-2016

Gold price settles above the EMA50 and above the bullish trend line, to keep the bullish trend active for the upcoming period, noticing that stochastic attempts to get rid of its negativity and gain positive momentum on the intraday time frames to support the chances of continuing the rise on the intraday and short term basis.

Therefore, we believe that the way is open to head towards our main targets that begin at 1375.00 and extend to 1400.00, reminding you that holding above 1312.00 and 1297.75 levels represents key condition to achieve the suggested targets.

Expected trading range for today is between 1320.00 support and 1370.00 resistance.

Expected trend for today: Bullish